The Financial Market Council (CMF) has informed SOTUVER’s shareholders and the public that it has asked the company to inform the market of the progress of the plan to open up its capital and to follow up on the press release published by the company on May 25, 2008.
On that date, SOTUVER announced its intention to open its capital to an investor in order to support its growing internationalization.
“This capital opening should involve shares representing 20 to 30% of the company’s capital.
The terms and conditions of this capital increase are still being studied. The estimated timetable is for the operation to be completed in the first half of 2024.
More than five months later, this partnership operation with a foreign operator still seems to be dragging on.
In response to the CMF, SOTUVER stated that “preliminary discussions with interested investors began in September 2023 and are continuing, taking into account that recent international events have affected the pace of progress”.
Finally, “no agreement has yet been reached and discussions will continue during the first half of 2024”.
For our part, we would remind you of this FIPA press release, which reports on the project by Pakistan’s Glass Industries Ltd to produce glass in Tunisia “in partnership with a well-known local player in the sector, with a view to exporting to European and African countries”.